Steps to make to set up business in Nanaimo

So you've assessed all your chances and decided to open a small business in Nanimo. What are the steps you have to make?

Step One. Form the idea. Examine the field in which you are going to work. It is hard to build a successful company, without knowing the trends of economic life of Nanaimo. It is necessary to prepare a business plan that will help determine the market segment and your potential customers.

Step Two. Choose a form of ownership. General Partnership, Sole Proprietorship or Corporation - all forms have their own characteristics. Before to choose one of the forms, it is better to consult with a specialist who is aware of the trends and the future of business in Nanimo.

Step Three. Determine the starting capital. How much money are you willing to invest in your business? At first, you will have to spend money on equipment, advertising, rent. Make a list of your expenses.

Step Four. Register your company. Find out whether you need to register in the tax office. This procedure is mandatory for those companies which income from the sale of goods or services exceeds 30 thousand dollars a year.